When you fall in love with a home you want to buy it before anyone else does. But what if your current home hasn’t sold yet? If you don’t have the funds from the sale of your home, that could be a big problem.
Fortunately, a bridge loan is a simple solution. A bridge loan provides you with short-term financing until funds from the sale of your home are available. You might also have heard them called gap loans or swing loans.
A bridge loan gets you funds fast.
In the real estate market, you have to act quickly when you find the home you like. You’re up against competitive buyers who don’t have a home to sell and have their funds in hand. A big benefit of a bridge loan is that the application process is faster than with other loans, so you get your funds quickly. Suddenly, you’re a strong candidate for the home of your dreams in sunny southern Arizona.
Is a bridge loan right for you?
A bridge loan may be a good option if you have:
* A home that hasn’t sold yet
* Equity in the home
* Good credit history
For more information on bridge loans and other types of mortgage financing, contact Steve at Nation’s Lending, 520-612-0479, or stop in at 210 W. Continental Road, Suite 116A, Green Valley AZ 85622.
Corp NMLS # 32416